Can a commercial lender require you to use their products or services to get a loan – large project?
Jul 02, 2009
in
Commercial Mortgage FAQ
Large project 600 million gets an offer for funding based on equity position plus a requirement to use their construction products and services. Is this against the Uniform commercial code
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3 comments
Tom Z on July 2, 2009 at 9:49 am
If the commercial lender is taking an equity position (i.e. stock ownership) it is a different relationship than being a lender. They are basically making a proposal to be part owner of the project. In that role I would not see it as anything that is illegal or even unethical.
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